DAAR Communications PLC, the company that owns African Independent Television (AIT), Raypower, and Faaji FM, has shared some big news. Some important leaders, like Mr. Tony Akiotu and Dr. Oluwatosin Dokpesi, are retiring.
This change will happen on October 31, 2024. It’s part of the company’s rules that say leaders who have been in their jobs for more than 10 years should retire.
On August 19, 2024, a statement from the company’s secretary, Miji Jonah, was released. It cleared up some online rumors saying that DAAR Communications had fired several directors, including Tony Akiotu and Oluwatosin Dokpesi.
DAAR Communications made an official announcement to the Nigerian Exchange Limited (NGX), its shareholders, and everyone interested. They confirmed that the retirement was in line with their company’s policies.
The official statement said: “DAAR Communications PLC (the Company) wants to let the Nigerian Exchange Limited (NGX), our valued Shareholders, and the General Public know that, after some online news reports on August 17, 2024, saying ‘DAAR Communications fires Tosin Dokpesi, Tony Akiotu, other Directors’ and ‘DAAR Communications retires Tosin Dokpesi, Tony Akiotu, other Directors’ on other sites, the Board and Management of DAAR Communications PLC (owners of AIT, Raypower, and Faaji FM) want to state:
‘We have decided to retire executive members who have been in their positions for more than 10 years, in line with the Company’s Internal Control Policies and Procedures Manual. Hence, we are announcing the retirement of the following members of our Executive Management.’”
The statement also shared that these leaders, who have served for over 10 years, will retire:
- Mrs. Mary Lawrence-Dokpesi
These leaders have finished two five-year terms. This is a big change for DAAR Communications’ leadership team.
The board thanked them a lot for their hard work and leadership. Their efforts were very important to the company’s success. The board wished them well in their future plans.
Moreover, the statement mentioned that DAAR Communications is going through a major leadership reorganization. When the changes are final, the company will tell the Nigerian Exchange (NGX), regulatory bodies, shareholders, and the general public all about it.
On Thursday, August 21, DAAR Communication’s share price was N0.43, which did not change from the previous day’s close. The stock price has dropped by 35.82% this year.